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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · North Carolina, the state note

Farmers & Merchants Bank

Granite Quarry, North Carolina · $999M in assets · beside the 9 other North Carolina banks between $300M and $1B

The filing

61.6%
CRE / loans
10th of 10
2.52%
ROA
1st of 10
64.2%
Loans / deposits
2nd of 10

Farmers & Merchants Bank is the largest of the 10 North Carolina banks between $300M and $1B, with $999M in assets at 30 June 2026. Loans are 64.2% of deposits, 2nd of 10 against a median of 80.9%, and equity is 15.0% of assets, 3rd of 10. Loans grew +2.1% in the year, 7th of 10, and deposits grew 6.6%; the cohort's median loan growth is +7.0%.

Noncurrent loans are 0.79% of the book, 6th of 10 against a median of 0.62%; 0.67% is 30 to 89 days past due, and the allowance covers them 2.4 times. Commercial real estate is 61.6% of loans, the highest in the cohort against a median of 33.4%, and 210% of capital, below the 300% screen, with construction at 104% against the 100% screen.

Return on assets is 2.52%, the highest in the cohort against a median of 1.16%, on an efficiency ratio of 47.9%, 2nd of 10. Five years ago it was 0.96%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

Commercial real estate, share of loansNC banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 33.4% FF First FSB of Lincolnton 6.9% RS Roxboro Savings Bank SSB 16.7% LB Lifestore Bank 25.4% MF Mechanics & Farmers Bank 26.6% LG Lumbee Guaranty Bank 28.8% Bo Bank of Oak Ridge 38.0% TB Triad Business Bank 39.7% BB Blueharbor Bank 39.9% KB KS Bank Inc 47.2% FM Farmers & Merchants Bank 61.6%
Loans, year over yearNC banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +7.0% KB KS Bank Inc +21.5% BB Blueharbor Bank +16.2% RS Roxboro Savings Bank SSB +14.8% LB Lifestore Bank +8.9% LG Lumbee Guaranty Bank +8.1% TB Triad Business Bank +5.9% FM Farmers & Merchants Bank +2.1% FF First FSB of Lincolnton +1.3% MF Mechanics & Farmers Bank -2.3% Bo Bank of Oak Ridge -2.6%

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 3 CBLR filers; owner-occupied excluded; bold marks a screen met
Farmers & Merchants BankRankCohort median
Total CRE against capital, the 300% screen210%6th of 10170%
Construction against capital, the 100% screen104%9th of 1035%
Construction and land development, share of loans30.6%10th of 106.6%
Non-owner-occupied nonfarm nonresidential, share of loans29.2%10th of 1019.0%
Total CRE, the guidance definition, share of loans61.6%10th of 1033.4%
CRE growth over 36 months, the third prong+1.4%2nd of 10+18.5%
Commercial real estate against capital, the 300% screenNC banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 170% FF First FSB of Lincolnton 27% RS Roxboro Savings Bank SSB 50% MF Mechanics & Farmers Bank 95% LG Lumbee Guaranty Bank 112% LB Lifestore Bank 130% FM Farmers & Merchants Bank 210% Bo Bank of Oak Ridge 241% TB Triad Business Bank 259% BB Blueharbor Bank 274% KB KS Bank Inc 425%
CRE growth over 36 months, the guidance's third prongNC banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median +18.5% FF First FSB of Lincolnton -27.9% FM Farmers & Merchants Bank +1.4% Bo Bank of Oak Ridge +9.6% LG Lumbee Guaranty Bank +11.0% MF Mechanics & Farmers Bank +18.2% TB Triad Business Bank +18.7% LB Lifestore Bank +18.9% RS Roxboro Savings Bank SSB +45.4% BB Blueharbor Bank +58.2% KB KS Bank Inc +86.9%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Farmers & Merchants Bank$999M2.5%47.9%0.79%-0.28%1.9%64.2%15.0%
KS Bank Inc$874M1.3%57.3%0.12%0.04%0.8%91.7%8.4%
Bank of Oak Ridge$658M1.2%62.1%1.79%0.11%1.3%102.4%12.5%
Blueharbor Bank$628M2.2%33.6%0.00%0.00%0.9%97.4%11.1%
Lumbee Guaranty Bank$583M0.8%71.6%0.37%0.00%0.5%49.4%8.9%
Triad Business Bank$536M0.2%88.4%1.38%0.16%0.8%86.1%9.5%
Lifestore Bank$491M1.1%61.0%1.11%-0.02%1.4%75.6%11.4%
First FSB of Lincolnton$486M0.5%77.6%0.46%0.04%1.0%90.7%16.9%
Mechanics & Farmers Bank$476M0.7%76.2%2.39%0.75%1.4%68.7%14.2%
Roxboro Savings Bank SSB$361M1.2%52.3%0.13%0.00%1.2%72.8%17.1%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Farmers & Merchants BankCohort median
20212026Change20212026Change
Loans$451M$541M+20%$244M$383M+57%
Deposits$760M$843M+11%$359M$484M+35%
NPA / loans0.38%0.79%+0.40 pts0.53%0.62%+0.09 pts
Efficiency68.4%47.9%-20.5 pts67.0%61.6%-5.5 pts
ROA0.96%2.52%+1.56 pts1.05%1.16%+0.11 pts

This read was prepared for Farmers & Merchants Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Farmers & Merchants Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort NC banks $300M to $1B
Institution www.fmbnc.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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